Food Market The Following Table Displays the Payoffs (In Thousands of Dollars)for

question 27

Essay

Food Market
The following table displays the payoffs (in thousands of dollars)for five different decision alternatives under three possible states of nature for a new food market: The prior probabilities of the states of nature are: P(s₁)= 0.2,P(s₂)= 0.3,and P(s₃)= 0.5. ​ ​
-{Food Market Narrative} Convert the payoff table to an opportunity loss table.

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